McDonald's quarterly sales fall 7 percent

McDonald's , the world's biggest restaurant chain, reported a 7.3 percent fall in quarterly sales as it struggled to recover from a food scandal in China and battled tough competition in the United States, SIA reports citing the Reuters.

The company's net income fell to $1.1 billion, or $1.13 per share, in the fourth quarter ended Dec. 31 from $1.40 billion, or $1.40 per share, a year earlier.